MK Zvi Hauser
MK Zvi Hauser Adina Wallman, Knesset Spokesperson

The Knesset Finance Committee early Monday morning approved for its second and third readings the bill that would allow for a 120-day postponement of the deadline to approve the budget.

The bill is based on a compromise proposed by MK Zvi Hauser (Derech Eretz) which is meant to resolve the coalition crisis over the budget. The compromise stipulated that the deadline for the approval of the budget would be postponed by 100 days, but during the night it was decided to change the deadline for the approval of the budget to December 23.

According to the proposal, while the budget is postponed it will not be possible to approve senior appointments in the public service. In the interim period until the approval of the budget for 2021, an additional 11 billion shekels will be granted to the follow-up budget for 2020.

On Sunday, Prime Minister Binyamin Netanyahu convened a press conference in which he announced that he accepts Hauser's compromise.

“Out of national responsibility, this evening I have decided to accept MK Hauser's compromise proposal. This proposal allows for the immediate channeling of funds to the citizens and economy of the State of Israel and it avoids the need for elections. This compromise proposal calls for the immediate approval of a special budget that will allow us to channel funds now for the opening of the school year, for assistance to the citizens of Israel, for restoring jobs, for security, for health, in effect for all areas. This compromise proposal is attentive to the Israeli economy at this time. This is the time for unity; this is not the time for elections,” said Netanyahu.

"I understood that Benny Gantz accepted the Hauser compromise. Now I hear that he has not. What has changed? Someone from Blue and White objected? If we work together, the plans and agreements will be fulfilled, it depends on them," the Prime Minister added.

The Blue and White party was unfazed by Netanyahu's statement and said, "We call on Netanyahu to keep his promise - prevent elections and keep the agreement, and to work for the health, security and security of the citizens of Israel. It's time to tell the public what was also said in the negotiating rooms, there is one truth and you do not play with it - no tricks."